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Automotive News Headlines - Yahoo! News

Automotive News Headlines - Yahoo! News
  • Panasonic first-quarter operating profit up 18.1 percent

    People look at Panasonic Corp's Viera televisions displayed at an electronics store in TokyoPanasonic Corp posted an 18.1 percent rise in operating profit for the first quarter, beating analyst expectations, on growing demand for its automotive parts and household fittings. The figure was higher than the 66.82 billion yen average estimate of six analysts, according to Thomson Reuters Starmine. Panasonic kept its operating profit target for the full year to March 2015 unchanged at 310 billion yen, which would be its highest profit in seven years.

  • Germany's ZF in advanced talks to buy TRW for near $12 billion: sources
    By Soyoung Kim, Arno Schuetze and Edward Taylor NEW YORK/FRANKFURT (Reuters) - Germany's ZF Friedrichshafen AG is in advanced talks to acquire U.S.-based TRW Automotive Holdings Corp for nearly $12 billion, in a deal that would create an automotive supply powerhouse, according to people familiar with the matter. ZF [ZFF.UL], which is lining up roughly 10 billion euros ($13.4 billion) in debt financing, is in talks to pay around $105 per TRW share, the people said, just above its current stock price and valuing the company at close to $12 billion based on shares outstanding.

  • VW set to overtake Toyota as global auto leader

    Logo of German carmaker Volkswagen is seen at a VW dealership in HamburgBy Yoko Kubota TOKYO (Reuters) - Volkswagen is poised to overtake Toyota Motor Corp as the global leader in vehicle sales, with a rapid expansion drive in China - the world's biggest auto market - while Toyota curbs growth to focus on shoring up quality. Toyota, reigning at the top spot in the auto industry for two years in a row, will announce its global sales for the first six months of the year on Wednesday, which could fall short of Volkswagen's half-year total. The Volkswagen group sold 4.97 million vehicles in January-June, up 5.9 percent from the same period a year ago. IHS Automotive forecast Volkswagen's total first-half sales at 5.07 million vehicles and Toyota's at 4.83 million, although it added that Toyota could end up outperforming its projections in the Middle East and Africa.

  • Bankruptcy court approves Fisker sale to Chinese firm

    Logo of Fisker at the North American International Auto Show January 12, 2009 in Detroit, MichiganA bankruptcy court has approved the sale of one-time star electric carmaker Fisker Automotive to the Chinese auto parts group Wanxiang, the US firm said Monday. California-based Fisker said it received approval from the bankruptcy court in Delaware of its sale for $149.2 million. Fisker was started in southern California in 2007 by former Aston Martin and BMW designer Henrik Fisker and German business partner Bernhard Koehler.

  • U.S. auto sales seen rising 9 percent in July: JD Power-LMC

    Traffic flows along Coast Highway 101 through San Diego's North County beach town of EncinitasU.S. auto sales in July will be the strongest for the month since 2006, and rise 9 percent from last year, automotive industry consultants J.D. Power and LMC Automotive predicted on Thursday. For the fifth consecutive month, the seasonally adjusted annualized sales rate will top 16 million new vehicles, at 16.6 million, the consultancies said. LMC raised its full-year 2014 forecast for new auto sales to 16.3 million, from 16.2 million. U.S. auto sales were 15.6 million vehicles last year.

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